Legal Question in Banking Law in India

Joint Account - Bounced Cheque

There was a joint account opened with an associate 3 years back. The person severed the relationship, but the joint account remains active. The associate has taken money from different people and absconded. It seems he issued several cheques from the joint account without my knowledge. What are the potential problems I would face because of his act? What steps shall I take to avoid any legal issues for me?


Asked on 8/08/07, 8:34 am

3 Answers from Attorneys
G. M. Gupta gmguptaandassociates

Re: Joint Account - Bounced Cheque

contact personally with documents

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Answered on 8/12/07, 5:15 am
J. Radhakrishnan independent Practice

Re: Joint Account - Bounced Cheque

It is not clear whether the joint account is either or survivor. In case the same is so, then the holders of the cheques issued by the joint holder, if dishonoured can proceed against the drawer of the cheque. It is better to inform the Bank to stop operations by the other holder. It is advisable to seek professional advice with a lawyer to whom all documents relating to the joint account are shown .

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Answered on 8/08/07, 10:05 pm

Re: Joint Account - Bounced Cheque

As such 'NONE'.No liability of joint account holder can be fastened upon you.

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Answered on 8/08/07, 1:27 pm


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